NZD/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 0.5832402 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 0.58688 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ chart pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58855 |
| 2nd High | 0.58838 |
| Next High | 0.58688 |
| Current Price | 0.58393 |
| Next Low | 0.58160 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows